Forbearance on your mortgage
On April 27, 2020, the Federal Housing Finance Administration (FHFA) clarified misinformation that servicers and lending institutions have provided to homeowners. The FHFA clarification will only apply to mortgages that are owned by Fannie-Mae or Freddie-Mac. Specifically, you will not have to make a lump sum payment at the end of any forbearance for loans owned by Fannie-Mae or Freddie-Mac. Click here to learn if Fannie-Mae owns your mortgage, or click here to see if Freddie-Mac owns your mortgage. Check both sites.
If Freddie or Fannie owns your mortgage, then you are entitled to a six-month forbearance